Crude oil down 0.5% on weak Asian cues
Analysts said fall in crude oil futures was attributed to a weak trend in Asian trade
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<a href="http://www.shutterstock.com/pic-33742723/stock-photo-many-barrels-of-oil-on-a-white-background.html?src=4E5JmKDWXyFhy3gm4lyKlQ-1-32" target="_blank">Crude Oil</a> image via Shutterstock
Crude oil futures prices today fell further by 0.58% to Rs 6,300 per barrel, as participants engaged in trimming positions, tracking a weak trend in the Asian region.
At the Multi Commodity Exchange, crude oil for delivery in October fell by Rs 37, or 0.58%, to Rs 6,300 per barrel in 2,770 lots.
In a likewise manner, oil for November shed Rs 32, or 0.50%, to Rs 6,335 per barrel in 201 lots.
Analysts said fall in crude oil futures was attributed to a weak trend in Asian trade despite hopes of a breakthrough in the budget impasse in Washington, as dealers focused on a US supply glut.
Meanwhile, West Texas Intermediate (WTI) crude for November delivery was down 28 cents to $102.73 a barrel on the New York Mercantile Exchange in mid-morning trade today.
At the Multi Commodity Exchange, crude oil for delivery in October fell by Rs 37, or 0.58%, to Rs 6,300 per barrel in 2,770 lots.
In a likewise manner, oil for November shed Rs 32, or 0.50%, to Rs 6,335 per barrel in 201 lots.
Analysts said fall in crude oil futures was attributed to a weak trend in Asian trade despite hopes of a breakthrough in the budget impasse in Washington, as dealers focused on a US supply glut.
Meanwhile, West Texas Intermediate (WTI) crude for November delivery was down 28 cents to $102.73 a barrel on the New York Mercantile Exchange in mid-morning trade today.
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First Published: Oct 11 2013 | 1:11 PM IST